A Market Researcher Is Interested in Determining the Average Income

question 68

Multiple Choice

A market researcher is interested in determining the average income for families in Simcoe County, Ontario.To accomplish this, a random sample of 400 families is taken from the county and the data gathered is used to estimate the average income for families of the entire county.This process is an example of ___.

• A)nonparametric statistics
• B)nominal data
• C)descriptive statistics
• D)inferential statistics
• E)census

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Definitions:

Bill Drayton

An American social entrepreneur known for popularizing the concept of "social entrepreneurship" and founding the organization Ashoka.

Social Problems

Issues that affect a large number of individuals within a society, often calling for public or government intervention.

Social Entrepreneurship

A form of entrepreneurship that focuses on innovating and implementing solutions to social, cultural, or environmental issues, prioritizing public benefit over profit.

Tax Shelters

Financial strategies or investments that minimize or avoid taxes legally, often used by individuals and corporations.